Agreement of “Strategic Importance” to Brazilian Airframer’s Future

Embraer has signed an agreement with aerostructures supplier Aernnova that will see the latter take over two of the airframer’s plants in Évora, Portugal, and simultaneously commits Aernnova to maintain current supplies to Embraer. The deal is worth around $172million, though that sum is “subject to adjustments on the closing date,” according to an Embraer statement. It is also subject to various conditions and is expected to close within the first quarter of 2022.

The two plants have a total size of 68,900sqm and employ around 500 people; they will constitute the largest facility in Spanish-based Aernnova’s infrastructure. The facilities produce metallic and composite aircraft components, including parts for wings and stabilisers for Embraer’s business and commercial aircraft, as well as for the KC-390 Millennium airlifter.

“[…] this partnership with Aernnova […] will allow for increasing the occupation level of the factories in Évora, to diversify its client base and to bring new business opportunities,” commented Embraer President and CEO, Francisco Gomes Neto. “This agreement is an important step towards the footprint optimisation strategic initiative, which aims to better use […] our assets and improve the company’s profitability.”

“This deal is another step forward in Aernnova’s growth strategy, further underlining the company’s status as a global leader in the design and manufacturing of aerostructures,” observed Ricardo Chocarro, Aernnova’s CEO. “We plan to further develop the operations of the facilities, and establish Évora as a global aerostructure manufacturing benchmark, with the technical and commercial support of Aeronova group, and with the continuous commitment of the company to a digital and sustainable aeronautical industry.”